Just been reading the September PEN presentation again and personally it hit me like a sledgehammer.
The presentation stated that current US uranium consumption is 50 million pounds per annum.
Our minimum total target is 56 million pounds to 70 million pounds, supported of course by the 912,000 metres of historical drilling.
That is our minimum resource target is a tad over one years total US current requirements, of which 92% is currently imported (Although this may decrease over time as further production comes in to play. However will demand stay at only 50 million pounds per annum).
Given our location and the size of some of the other current and proposed operators in the region, i believe a tie up with a larger company is a formality.
Personally i would like to see the total resource proven up as quickly as possible.
I cannot see this company proving up Ross and Barber (15 million pound requirement) and then gradually using some of the generated funds to prove up the total resource over an extended period of time. I think it will happen quicker than that with some form of alliance with another larger and more substantial partner.
On a fully diluted basis at 2.3 cents our current mc is around 27.117 million AU or 18.7 million US.
What am i missing here??
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